GEICO, the nation’s second-largest auto insurer, is limiting its physical presence in California and eliminating telephone sales of new policies there.
The House approved wide-ranging legislation aimed at helping communities in the West cope with increasingly severe wildfires and drought — fueled by climate change — that have caused billions of dollars of damage to homes and businesses in recent years.
Water levels on the Rhine River are set to fall perilously close to the point at which it would effectively close, putting the trade of huge quantities of goods at risk as the continent seeks to stave off an economic crisis.
The actions could potentially add to the confusion and concern about the stability of the Florida insurance market and Demotech’s long-term role in it.
Insurance executives, risk modelers and analysts examine the growing peril of wildfire, and what must be done to combat one of the hottest risks facing the industry.
Claims have become more severe over the past five years due to factors like higher property and asset values, more complex supply chains, and the growing concentration of exposures in natural catastrophe-prone locations.
Crews battling the largest wildfire so far this year in California braced for thunderstorms and hot, windy conditions that created the potential for additional fire growth.
A wildfire in Northern California was burning out of control amid exacerbating conditions that pose the dangers of thunderstorms, and hot, windy conditions.